Texas Permanent School Fund Corp Lowers Stock Holdings in Globe Life Inc. (NYSE:GL)

Texas Permanent School Fund Corp lowered its holdings in Globe Life Inc. (NYSE:GL) by 20.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,166 shares of the company’s stock after selling 3,543 shares during the period. Texas Permanent School Fund Corp’s holdings in Globe Life were worth $1,166,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. NBC Securities Inc. grew its position in shares of Globe Life by 2.7% in the first quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock valued at $675,000 after purchasing an additional 153 shares during the period. Commonwealth Equity Services LLC grew its position in Globe Life by 0.5% during the first quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock valued at $4,082,000 after acquiring an additional 167 shares during the period. Perigon Wealth Management LLC grew its position in Globe Life by 7.6% during the first quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock valued at $305,000 after acquiring an additional 184 shares during the period. Bruce G. Allen Investments LLC grew its position in Globe Life by 33.2% during the second quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock valued at $66,000 after acquiring an additional 201 shares during the period. Finally, SRN Advisors LLC grew its position in Globe Life by 5.2% during the first quarter. SRN Advisors LLC now owns 6,758 shares of the company’s stock valued at $786,000 after acquiring an additional 332 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling

In other Globe Life news, Director Mary E. Thigpen purchased 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the purchase, the director now owns 15,605 shares in the company, valued at approximately $1,407,571. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GL shares. Truist Financial boosted their price target on Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Wells Fargo & Company boosted their price target on Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $118.00 price target (up previously from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Piper Sandler boosted their price target on Globe Life from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group boosted their price target on Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, June 28th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and an average target price of $108.33.

Globe Life Trading Down 0.9 %

Shares of GL opened at $106.26 on Friday. The stock’s 50-day moving average is $96.61 and its two-hundred day moving average is $92.72. The stock has a market cap of $9.57 billion, a PE ratio of 10.15 and a beta of 0.81. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the firm posted $2.61 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts forecast that Globe Life Inc. will post 11.93 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, October 4th. Globe Life’s dividend payout ratio (DPR) is 9.17%.

Globe Life Profile

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.